Introduction to Micro and Macro Economics — Economics STD 12 Commerce / Arts — Question
Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsIntroduction to Micro and Macro Economics4 Marks
Question
Micro economics is the study of aggregate.
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Answer
No, I do not agree with this statement. OR Micro economics studies individual economic units. Yes, I agree with this statement.
Micro economics is the microscopic study of individual economic units in great detail.
It deals with individual firms, individual demand and supply, prices of individual, firms, etc.
But macro-economics deals with economic behaviour of the whole economy with respect to national income, aggregate demand and supply, general price level, etc.
Hence, micro economics is the study of individual economic units whereas macro economics is the study of aggregates.
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